In light of the budget emphasis on getting back to surplus, it has been stated by some knowledgeable commentators that if we can reach a surplus, it will effectively be made in China. I agree. We have become highly dependent on China for our economic wellbeing.

But wait, there is a HUGE problem.

This is truly scary. From the SBS Dateline program: China’s ghost cities:

http://www.sbs.com.au/dateline/story/watch/id/601007/n/China-s-Ghost-Cities

< Things may not be as rosy as they seem >

< Ten new cities every year >

< … just another bubble waiting to burst? >

< 64 million empty apartments >

< essentially the modern equivalent of building pyramids >

China’s incredible economic growth appears to be largely built on an almighty falsehood – growth for growth’s sake, and not for the betterment of peoples’ lives.

I wonder how much longer this can continue before it all comes crashing down. And I wonder what will happen to Australia’s economy when it does.

Absolutely right Ludwig. There is no longer term planning for the end of the mining and resources boom and a growing dependency on China which is a house of cards waiting to fall.

There are alreadly rubmlings in the US about its growing dependence on China but very little foresight from Australian governments over the past 10 years.

http://arkansasnews.com/2011/01/25/lets-break-our-dependence-on-china/

why do we expect china to be any different from ireland or usa
who know about ghost estates[admittedly on a smaler scale]

china/house are mostly a way to hide
the gross ammounts of income a few are making
in a land measuring its poulation in billions..millions of houses beciomes a questyionable point

thing is are there enough people who can handle their bedt
[defaulting debts is the only real concern]

i forget the defaul;t rate on us housing
but note the prices are still falling

their investment houses being empty
could mean the got enough equity [or enough income]
to make the payments

someone..is buying them

lets wait till defaults rise
and the price falls
before we get carried away with things we dont fuully grasp

Banks Offer $5 Billion
to Resolve Foreclosures

Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM),
along with three other U.S. mortgage servicers,

proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials,

two people familiar with the matter said.

$27 trillion in damage to the US economy,
and the banks offer $5 billion for a get-out-of-jail-free card?

follow the money?
http://www.youtube.com/watch?v=sP8PrJbJeVA
heard of red-lining?
http://www.businessweek.com/magazine/content/11_20/b4228031594062.htm
greek 'austerity biting'
http://weeklyintercept.blogspot.com/2011/05/strikes-over-austerity-measures.html

id be more worried about the rich
http://theintelhub.com/2011/05/08/billionaires-for-eugenics/

http://www.youtube.com/watch?v=qXcKIyn6LJ4&feature=channel_video_title

how about perpetual war
http://thehill.com/blogs/floor-action/house/160419-democrats-protest-gops-plans-for-permanent-war-against-taliban-al-qaeda

here is a plan...'b'
http://www.youtube.com/watch?v=mvUGr-jj5l0
[its a doomsday cult
21 st of may]..

''all a/bored''

I second that, Absolutely right, Ludwig.

The social implications resulting from China's incredible growth are also worth examining.

58 million children are now affected by the practice of adults migrating to the cities to work - often leaving their offspring in the sole care of aging grandparents. Many villages now contain only children and grandparents.

A documentary:
http://www.last-train.com/about/

http://seattletimes.nwsource.com/html/nationworld/2013173770_chinakids17.html

Australia is prospering by its trade with China,and this trade may not last forever.
And just why is China intent on this massive growth, seemingly unneeded in the case of these apartments.
Do we think they have no reason to build them ,no plan?
And what is this country to do, if our mineral exports stop, will they soon, both questions need answers.
Not a simplistic cry what shall we do.
Exporting clothing and foot wear is out, we can not compete.
Any one think we can make hole in white goods and electrical exporting.
Food? we do ok here selling sugar wheat and grains but in drought years.
Beef, ok so far, with south America out of some markets but long term room for massive growth?
Lamb/sheep NZ has us hands down in those markets but we do sell some.
Wool? increasing prices equal more use of substitutes future unknown.
Tourism, what shall we, should we base our economy's future on.
Lets not cut defense,not refuse the cash flow we now have but lets not forget the world is one big shopping mall, if yo have the right item at the right price sell it.
Out future is more about our long term population its numbers and its distribution in this big brown country.

we..were of one mind
until this belly

""Lets not cut defense,""
rubbish and old thinking
lets cut defence off at its knees
it isnt even under authority..to govt
[but under orders of hrh/via her govenener general

in short
there to lord it over us
an army sworn to a foreign state loyalty[hrh]
but paid for by us

while serving the agenda of great briton
then usa...and very soon china

....""not refuse the cash flow we now have""

not refuse?..the cash flow...WE?...now have?

we
[the armed forces}..serving other colonisation adgendas?

how could they refuse
lord knows how they run THEIR minester
[thats the hardest job in the world..BECAUSE they KNOW
govt dont tell them NUTHING..they ONLY take orders from gg

if the cashflow is re the mining boom
remember that boom is the sound made
as the bubble goes BUST...

'\!*!/'
<BOOM>

now watch how alp..splurges it
into yet...*other bubbles

govt leeches..
love...*govt money made*...

*bubbles